Multisource has completed its acquisition of WBS \u2013 the parent company of iBurst and Broadlink \u2013 following approval from the Competition Commission and Icasa.<\/p>\n
The shareholders of Multisource include consortiums led by Phumlani Moholi, former CTO of MTN, and the family interests of Paul Harris and Michael Jordaan, together with management.<\/p>\n
The future shareholding structure is being finalised, and will include these parties as well as new members.<\/p>\n
\u201cNow that the acquisition is finalised, we will participate at a more operational level with the WBS group and will collaborate on a strategy going forward,\u201d said Multisource.<\/p>\n
Duncan Simpson-Craib has been appointed as Group CEO, Phumlani Moholi CEO of the network, and Brandon Leigh \u2013 the founder on the new group \u2013 will head up Group Strategy and Product Development.<\/p>\n
Ravi Naidoo, the founder of Interactive Africa and Design Indaba, will become a shareholder and non-executive director and will guide the brand strategy.<\/p>\n
\u201cThe intention is to develop the existing businesses and network to leverage the valuable spectrum licence that WBS holds.\u201d<\/p>\n
\u201cThe technical and business telecommunications expertise that exists within Multisource will strengthen the WBS team.\u201d<\/p>\n
Multisource closes in on iBurst buy: report<\/a><\/strong><\/p>\n